4 Ways that Global Warming Will Cost the Millennial Generation

Wednesday, June 07, 2017

The millennial generation is the now generation. When it
comes to global warming, most of the problems that will be faced will manifest
greatest in their elder years. Everyone is responsible for making sure the
brunt of these global issues does not end or destruct just one generation. We
all have a part in helping to combat climate change, but unfortunately the
timetable and the greatest impact are likely to fall on the millennials.

Global warming poses a bigger threat than simply the sea
covering coastal cities. In fact, it is estimated that the millennials will
lose over $8.8 trillion in the combat of climate change. If circumstances remain
the same, their mainstay and traditional ways of life will be disrupted.

Here are four main ways the climate change will affect the millennials.

Higher cost of living

Global warming will create higher living costs in terms of
food and tax. Around the world, food prices are higher due to an abundance of
crop failure as a result of global warming. City and statewide taxes are being
implemented to help cover the costs of rebuilding and infrastructure loss due
to floods and other effects of climate change. This scenario trickles down to
the young families that are just starting families which is the Generation Z
and the Millennial generation. Moreover, in an effort to take care of the
environment, governments around the world are raising their tax to fund their
efforts and unfortunately in the end the overall cost of living goes up at a
higher rate than inflation due to the devastating effects of climate change.

Many natural catastrophes

In the last three decade’s there has been an increase of
natural disasters at a magnitude that has not been experienced in the past
years. Flood prone areas are experiencing more than the standard rainfall
levels. Other places are experiencing droughts, hurricanes, and cyclones. The
natural catastrophes are blamed for sudden decline in economic development in
many areas and loss of life in many other areas. This is something that the
millennials will be confronted with and will be fiscally responsible for.

Rising health issues

The degradation of the environment has brought with it a
number of public health issues that has not been experienced in the past. There
is sudden rise in incurable or high mortality conditions like cancer and asthma
related conditions and they stem from pollution from industries that are not
practicing sustainability and are often cases found in poverty stricken areas
where environmental conditions are not good. These inadequate conditions and
unregulated areas will raise the cost of healthcare and lead to lower life expectancy
in many cases. Unfortunately, the cost will be borne by millennials as their
population is on the rise in urban centers and developing areas.

Source of social
transition and innovation

There is one bright side to this global problem. Climate
change and global warming has opened a multi-billion avenues for millennials to
develop solutions and benefit from such innovations. The issues have also led
to the increase of social awareness and concerted efforts in coming up with solutions
for the environment.

As countries have come together to sign treaties like the
Kyoto and Paris agreements, millennials are tasked with creating solutions to help
see that the treaties work. And though the United States just recently pulled
out of the Paris Agreement, there is a greater sense of urgency from local communities
and state as well as the private sector to create solutions that will and can
be a implemented to fight this global crisis.